Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows - Thermon Holding Corp

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Condensed Consolidated Statement of Cash Flows - Thermon Holding Corp (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities    
Net income (loss) $ 6,600 $ (4,966)
Adjustment to reconcile net income (loss) to net cash (used in), provided by operating activities:    
Depreciation and amortization 3,417 3,946
Amortization of debt costs 1,180 2,315
Stock compensation expense 58 6,341
Benefit for deferred income taxes 76 753
Changes in operating assets and liabilities:    
Accounts receivable (4,842) (5,470)
Inventories 902 (2,927)
Costs and estimated earnings in excess of billings on uncompleted contracts 103 (366)
Other current and noncurrent assets (106) 2,329
Accounts payable (541) 1,948
Accrued liabilities and noncurrent liabilities (7,040) (10,605)
Income taxes payable 1,793 (13,676)
Net cash (used in) provided by operating activities 1,600 (20,378)
Investing activities    
Purchases of property, plant and equipment (1,268) (2,379)
Cash paid for Thermon Holding Corp. (net of cash acquired of $2,852) (131) (372)
Net cash used in investing activities (1,399) (2,751)
Financing activities    
Payments on senior secured notes (21,000) (42,000)
Net proceeds (payments) from revolving line of credit 12,769 (2,063)
Capital contributions   48,669
Premium paid on retirement of senior secured notes (630) (1,260)
Proceeds from employee stock options 1,912  
Net cash provided by (used in) financing activities (6,949) 3,346
Effect of exchange rate changes on cash and cash equivalents (1,090) 121
Change in cash and cash equivalents (7,838) (19,662)
Cash and cash equivalents at beginning of period 21,468 51,266
Cash and cash equivalents at end of period 13,630 31,604
Thermon Holding Corp.
    
Operating activities    
Net income (loss) 6,600 (4,966)
Adjustment to reconcile net income (loss) to net cash (used in), provided by operating activities:    
Depreciation and amortization 3,417 3,946
Amortization of debt costs 1,180 2,315
Stock compensation expense 58 6,341
Benefit for deferred income taxes 76 753
Changes in operating assets and liabilities:    
Accounts receivable (4,842) (5,470)
Inventories 902 (2,927)
Costs and estimated earnings in excess of billings on uncompleted contracts 103 (366)
Other current and noncurrent assets (106) 2,329
Accounts payable (541) 1,948
Accrued liabilities and noncurrent liabilities (7,040) (10,605)
Income taxes payable 1,793 (13,676)
Net cash (used in) provided by operating activities 1,600 (20,378)
Investing activities    
Purchases of property, plant and equipment (1,268) (2,379)
Cash paid for Thermon Holding Corp. (net of cash acquired of $2,852) (131) (372)
Net cash used in investing activities (1,399) (2,751)
Financing activities    
Payments on senior secured notes (21,000) (42,000)
Net proceeds (payments) from revolving line of credit 12,769 (2,063)
Capital contributions 1,912 48,919
Premium paid on retirement of senior secured notes (630) (1,260)
Net cash provided by (used in) financing activities (6,949) 3,596
Effect of exchange rate changes on cash and cash equivalents (1,090) 121
Change in cash and cash equivalents (7,838) (19,412)
Cash and cash equivalents at beginning of period 21,468 51,016
Cash and cash equivalents at end of period $ 13,630 $ 31,604